With the number of people shopping online growing year over year, it’s no surprise that global e-commerce sales have also increased.
Here’s a look at how annual e-commerce sales worldwide have grown over the past few years and are expected to grow.
Global Ecommerce Sales: 2021-2027
Year |
Global eCommerce Sales |
|
2021 |
$4.98 trillion |
|
2022 |
$5.29 trillion |
|
2023 |
$5.82 trillion |
|
2024 |
6,330 billion dollars |
|
2025 |
$6.86 trillion |
|
2026 |
$7.41 trillion |
|
2027 |
$7.96 trillion |
Global e-commerce sales expected to total 6,330 billion dollars worldwide in 2024. This number is expected to continue to grow over the next few years, proving that the e-commerce business model is becoming an increasingly lucrative option for businesses.
The 2024 figure also marks an annual increase of 8.8%, the third fastest growth rate of global e-commerce sales in the forecast period between 2021 and 2027.
Online sales are expected to continue to rise and take a larger share of the retail pie. In 2025, global e-commerce sales are expected to reach $6.86 trillion, before adding another $550 billion in 2026, reaching $7.41 trillion. By 2027, global retail e-commerce sales are estimated to reach $7.96 trillion.
From 2021 to 2027, global annual e-commerce sales are expected to increase by almost $3 billion. This represents an overall increase of 59.8% and an average annual growth rate of 8.1%.
Global eCommerce Sales: Top Contributors
As the world’s largest exporter, China is also the largest the world’s first e-commerce marketplacewith total online sales surpassing the $3 trillion mark in 2023. Together with the United States, these two countries’ e-commerce sales totaled over $4.1 trillion.
It should therefore come as no surprise that some of the world’s countries top e-commerce companies come from these two powers. In fact, more than half of the top 10 are from China or the United States.
Rising e-commerce sales around the world: the main drivers
This gap between online and in-store sales widened significantly in 2020 in 2021 due to the coronavirus pandemic. In fact, experts say the pandemic has accelerated the shift to online shopping five years.
but it is not the only reason e-commerce is increasing.
The infiltration of mobile technology into consumers’ lives has more than helped move things forward. Recent figures show number of people shopping online worldwide is expected to increase by 2.7% in 2024 to reach 2.71 billion. Data also shows a growing reliance on shopping via mobile devices. Actually, mobile commerce sales are also expected to grow. In 2024, total mobile device sales are expected to reach $2.5 trillion, up from $2.2 trillion in 2023.
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FAQs on Global Ecommerce Growth
What is the growth rate of e-commerce?
The growth rate of e-commerce varies greatly from year to year, but overall it is growing at a very rapid rate. In 2024, the global e-commerce market value is estimated at $6.33 trillion, an increase of 8.8% from the previous year. The growth of e-commerce is expected to continue in the coming years.
How much has e-commerce grown in 2023?
According to expert estimates, e-commerce sales grew by 10% in 2023. It is difficult to predict the exact growth of e-commerce because many factors can influence the growth of e-commerce, such as the global economy, technological advancements and consumer trends.
Is e-commerce growing in 2024?
Yes, e-commerce is expected to continue growing in 2024. In fact, many experts predict that e-commerce sales will increase by 8.8% due to the increasing digitalization of the world. This growth is expected to be driven by the increasing number of shoppers and businesses using digital channels to purchase goods and services.
How big is the global e-commerce market?
The global e-commerce market is estimated to be worth around $6.33 trillion in 2024.
